SPYZ.DE vs. SC02.DE
SPYZ.DE (SPDR MSCI Europe Financials UCITS ETF) and SC02.DE (Invesco European Financials Sector UCITS ETF) are both Financials Equities funds - SPYZ.DE tracks the MSCI Europe Financials 20/35 Capped while SC02.DE tracks the STOXX® Europe 600 Optimised Financial Services. Both are passively managed. Over the past 10 years, SPYZ.DE returned 12.24%/yr vs 10.49%/yr for SC02.DE. Their correlation of 0.80 suggests significant overlap in exposure. SPYZ.DE charges 0.18%/yr vs 0.20%/yr for SC02.DE.
Performance
SPYZ.DE vs. SC02.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPYZ.DE achieves a 3.30% return, which is significantly higher than SC02.DE's 1.67% return. Over the past 10 years, SPYZ.DE has outperformed SC02.DE with an annualized return of 12.24%, while SC02.DE has yielded a comparatively lower 10.49% annualized return.
SPYZ.DE
- 1D
- 0.55%
- 1M
- 0.34%
- YTD
- 3.30%
- 6M
- 10.26%
- 1Y
- 21.73%
- 3Y*
- 28.74%
- 5Y*
- 19.38%
- 10Y*
- 12.24%
SC02.DE
- 1D
- 1.84%
- 1M
- 0.07%
- YTD
- 1.67%
- 6M
- 8.51%
- 1Y
- 3.83%
- 3Y*
- 16.32%
- 5Y*
- 8.30%
- 10Y*
- 10.49%
SPYZ.DE vs. SC02.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPYZ.DE SPDR MSCI Europe Financials UCITS ETF | 3.30% | 48.26% | 25.23% | 21.51% | -2.51% | 28.19% | -15.32% | 24.02% | -19.59% | 12.30% |
SC02.DE Invesco European Financials Sector UCITS ETF | 1.67% | 9.93% | 19.25% | 27.60% | -20.74% | 24.60% | 6.09% | 46.54% | -14.49% | 18.89% |
Correlation
The correlation between SPYZ.DE and SC02.DE is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since May 14, 2013 | 0.80 |
The correlation between SPYZ.DE and SC02.DE has been stable across timeframes, ranging from 0.70 to 0.80 - a consistent structural relationship.
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Return for Risk
SPYZ.DE vs. SC02.DE — Risk / Return Rank
SPYZ.DE
SC02.DE
SPYZ.DE vs. SC02.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Financials UCITS ETF (SPYZ.DE) and Invesco European Financials Sector UCITS ETF (SC02.DE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| SPYZ.DE | SC02.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.02 | ||
| Sortino ratioReturn per unit of downside risk | +1.39 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.05 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 0.31 | +1.50 |
| Martin ratioReturn relative to average drawdown | 6.13 | 0.86 | +5.27 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPYZ.DE | SC02.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 0.24 | +1.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.02 | 0.43 | +0.59 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | 0.50 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 0.55 | -0.08 |
Drawdowns
SPYZ.DE vs. SC02.DE - Drawdown Comparison
The maximum SPYZ.DE drawdown since its inception was -45.16%, which is greater than SC02.DE's maximum drawdown of -42.86%. Use the drawdown chart below to compare losses from any high point for SPYZ.DE and SC02.DE.
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Drawdown Indicators
| SPYZ.DE | SC02.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.16% | -42.86% | -2.30% |
Max Drawdown (1Y)Largest decline over 1 year | -12.28% | -12.17% | -0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -16.91% | -19.17% | +2.26% |
Max Drawdown (5Y)Largest decline over 5 years | -23.17% | -29.68% | +6.51% |
Max Drawdown (10Y)Largest decline over 10 years | -45.16% | -42.86% | -2.30% |
Current DrawdownCurrent decline from peak | -2.74% | -3.42% | +0.68% |
Average DrawdownAverage peak-to-trough decline | -9.57% | -8.06% | -1.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.65% | 4.46% | -0.81% |
Volatility
SPYZ.DE vs. SC02.DE - Volatility Comparison
SPDR MSCI Europe Financials UCITS ETF (SPYZ.DE) has a higher volatility of 5.19% compared to Invesco European Financials Sector UCITS ETF (SC02.DE) at 4.93%. This indicates that SPYZ.DE's price experiences larger fluctuations and is considered to be riskier than SC02.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYZ.DE | SC02.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.19% | 4.93% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 14.37% | 12.72% | +1.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.69% | 15.92% | +1.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.75% | 19.08% | -0.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.28% | 20.65% | +0.63% |
SPYZ.DE vs. SC02.DE - Expense Ratio Comparison
SPYZ.DE has a 0.18% expense ratio, which is lower than SC02.DE's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPYZ.DE vs. SC02.DE - Dividend Comparison
Neither SPYZ.DE nor SC02.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYZ.DE and SC02.DE have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYZ.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYZ.DE is cheaper with a 0.18% expense ratio, compared with 0.20% for SC02.DE.
SPYZ.DE tracks MSCI Europe Financials 20/35 Capped, while SC02.DE tracks STOXX® Europe 600 Optimised Financial Services. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.18% for SPYZ.DE and 0.20% for SC02.DE.
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